Argentina's worst drought in almost 100 years decimates critical soy, wheat and corn production. theSun theSundaily drought environment economy Argentina
A soy plant affected by drought and high temperatures is seen in a field in Baradero, Buenos Aires province, Argentina, on March 30, 2023. AFPPIX: Argentina's already fragile economy is now taking a beating from nature, as the worst drought in almost 100 years decimates critical soy, wheat and corn production.
What’s more, “the true situation will only become clear once the harvesters enter the fields,“ agronomist Jaime Mestre told AFP. The IMF insisted, however, that Argentina needed “a stronger policy package... to safeguard stability, address setbacks and secure program objectives” against the backdrop of “an increasingly severe drought, rising inflation weak reserve coverage.”
Soy contributes about $10 billion to the treasury annually -- a major income generator for Argentina, in the grips of an unusually harsh La Nina weather cycle.
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